Edmonton drops 2022 Games bid

(Reuters) - The Canadian city of Edmonton has withdrawn its bid to host the 2022 Commonwealth Games over economic concerns in the wake of a drop in worldwide oil prices, officials said on Tuesday.

The decision, which comes weeks ahead of the March deadline to submit bids, leaves South Africa's Durban as the only other city vying to host the multi-sports event.

"We are of course very saddened by this decision, but we know that this is the right one for the future of our city, province and country," Simon Farbrother, chief executive of the Edmonton bid committee, said in a statement.

"The Commonwealth Games have strong roots in Canada and we plan to be able to come back for the 2026 Games should the economic status allow."

The Commonwealth Games are held every four years and feature athletes from over 50 countries. The next event will be held on Australia's Gold Coast in 2018.